Former Binance CEO CZ reportedly owns 64% of BNB supply

Hanzin

Forbes claims that former Binance CEO Changpeng Zhao is the 24th richest person in the world due to his BNB token ownership.

Zhao reportedly owns 64% of Binance’s circulating supply of BNB tokens. At current prices, the 94 million coins Zhao is said to control are worth more than $56 billion.

The report also states that it owns approximately 90% shares in the Binance exchange.

The crypto exchange made alarming headlines, resulting in Zhao stepping down from his leadership role and serving a prison sentence. But at the same time, BNB has increased this year as well.

CoinGecko data showed a 141% price increase in the last 14 months. The cryptocurrency broke its all-time high (ATH) earlier this month, rising as high as $717.

BNB has returned 1,497,749% since its launch as an initial coin offering in 2017 and formed the backbone of Binance’s debut that same year.

By comparison, the S&P500 has gained 3,540% throughout its existence as an investment index. Reports from crypto.news also indicate that BNB may retest the ATH soon and continue its upward momentum towards higher prices.

Zhao’s fortune could grow even further while he is serving a four-month sentence in a California prison.

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